Quote LeagueDweeb="LeagueDweeb"BB Holdings had taken the full allocation of Sky money due before admin came. '"
You don’t say … as opposed to all the other SL clubs, who presumably decline to take their full allocation of Sky money as the season goes on… ?
Quote LeagueDweeb="LeagueDweeb"why is it an issue that OK Bulls was not given the money twice over? '"
Eh? You’ll have to restate that question in a way that makes sense.
Quote LeagueDweeb="LeagueDweeb"The RFL had simply advanced money, approx. £170k a month to P&A, plus paying all their extortionate fees. '"
We knew the RFL would pay wages etc to keep the club ticking over, and if necessary the RFL/SLE (through “Neonrain”) would even have acquired the club albeit on a temporary basis, the obvious reason being the integrity of the comp as opposed to one club dropping out. Do you think this is an insight or something? It isn’t.
Quote LeagueDweeb="LeagueDweeb"There is nothing in the RFL Operational Rules that specifies financial sanction upon administration.'"
Is that a fact? Well, I think I had better get off to the optician after this post because I am looking at them and clearly hallucinating. They state:
Quote LeagueDweeb=#FF00004.7 In the event of a member ceasing to be a member upon notice from the Company by virtue of Acquisition, Change of Control or Insolvency Event, the Board, at its absolute discretion, shall have the right to readmit the member or admit a new member as a member on any terms as it sees fit, which for the avoidance of doubt, may include financial, administrative and/or sporting sanctions.'"
Funny, that.
Quote LeagueDweeb="LeagueDweeb"BBH wasn't kept alive because the debts were such that no potential owner would consider buying the old company & attempting to pay them off, even at a reduced rate. No sane businessman would take on debts & ongoing liabilities they had not accrued. '"
But you’re just stating the bleedin’ obvious, to the point of banality! And you are also skating over the fact that new owners, while not saving the old company (and so technically having no responsibility for its debts) nevertheless are expected by the RFL to offer to make payments despite tis total lack of obligation, and their proposals are part of the factors considered in deciding on sanctions.
Quote LeagueDweeb="LeagueDweeb"Quote LeagueDweeb="Ferocious Aardvark"So in his original letter to all creditors, the administrator blatantly lied, did he? '"
Got a copy of this letter? '"
You clearly don't! It states "[iAs part of the agreement and to meet the requirements of the RFL the purchasers are to make an offer to all trade creditors in the sum of 100p in the £[/i".
Oops!
So, come on, was the administrator lying? Well?
Quote LeagueDweeb="LeagueDweeb" The administrator is responsible for handling ALL the affairs of OK Bulls. It is he who decides which creditors, if any are to be paid. It would be illegal for MG to pay creditors without doing so via the administrator. '"
Absolute tosh and nonsense, as if BBNL chooses to pay anything to anyone, then it is not part of the affairs of OKB. At all. MG is not involved personally for the first thing. Secondly, the payment would be from BBNL not MG personally. Thirdly neither MG nor BBNL are in any way a party to the administration.
If for example Acme Pies were owed £1000 by OKB and BBNL want to continue to trade with Acme Pies then they might choose to make a payment equal to what Acme Pies were owed by OKB. This would not concern the administrator. He only distributes such funds (if any) remaining when he has got in THE DEBTS DUE TO OKB. Anything BBNL chooses to pay is clearly not in the category of debts due,
because BBNL does not owe a penny of OKB’s debts. Which is kinda the whole point, as you yourself sort of pointed out, of MG Not buying and keeping alive OKB.
But, as you’re seemingly a lawyer, if BBNL did choose to make the £1K payment to keep Acme Pies sweet, please enlighten us all what offence they would have committed?
If I felt sorry for Acme Pies, and sent them a cheque for £1K, would I be in jail too?
When Bullbuilder and others collected money and paid effectively some cash in lieu of wages to those who were working for nothing, and should have been paid by the club, did that make each person who put coppers in the bucket a criminal as well?
Were all the buckets delivered to the administrator so he could divide them between all creditors? We're gonna need a bigger jail.
Quote LeagueDweeb="LeagueDweeb" The 6 point sanction was applied to OK Bulls whilst it was being controlled by the administrator.'"
We all know that the RFL plainly announced sanctions against BB2014, based on BB2014’s business plans etc. They announced so. We all thought BB2014 had bought the assets only it turned out that they actually hadn’t. But the penalty was announced aimed at BB2014 and not at OKB. BB2014, it turns out, obtained a licence to run the club from the RFL for 1 month. So they were RUNNING the club and had a licence to do so and as such were a temporary member, even though it turns out they did not own the club, although they had signed a (conditional) contract to do so. The end result was the de facto 6 points disappeared off the League table whilst BB2014 was operating under a temporary licence and therefore undoubtedly it was BB2014 which was sanctioned. However the sale fell through, the licence expired, and the operation of the club thus reverted to OKB, which was being run by the administrator. He appealed against the decision in that capacity, i.e. as the person running OKB, and did so in order to preserve any right of appeal as this might enhance the price he could sell the assets for, but the sanction was clearly not applied to OKB.
Quote LeagueDweeb="LeagueDweeb" He effectively owns the business '"
No! OK owned the business until he sold the shares (if he did, that remains in litigation). The shares are of course not exactly worth a lot but the administrator RUNS the business and can SELL the business or parts but he never OWNS the business.
Quote LeagueDweeb="LeagueDweeb" MG has no intention of paying OK Bulls creditors, he knows this would have to be done through the administrator he appointed, and is why he is going down the force majeure route. A damn sight cheaper for sure.'"
I don’t think anyone on here claims BBNL were proposing to make any or any substantial payments to OKB creditors, simply because I’d have thought it would have been public knowledge if they did, but the fact is you are speculating, as no announcement has been made one way or the other. It would be interesting, when comparing the comments made by RFL re debtors, and indeed the quote from the administrator's letter that referenced RFL requirements, to know why different requirements would apply now.
Quote LeagueDweeb="LeagueDweeb" OK's £1m? Analysis of OK Bulls finances by the administrator reduces this to £400k.'"
As you so often do, you have it the wrong way round. The administrator tried to say OK was only owed £400K. (Without speaking to OK). OK insisted on a creditors meeting. At that meeting OK produced documentation evidencing his financial input and the administrator eventually revised and admitted OK’s claim at the increased figure of £1m approx.
Quote LeagueDweeb="LeagueDweeb" MG is SSG in the same way that OK was OK Bulls. You really are struggling with this aren't you? '"
The struggle is exclusively yours. The concept of a company being a legal person is one you need to get your head around. Until you do you’ll just keep looking increasingly silly.
Quote LeagueDweeb="LeagueDweeb" Misinformation? Feel free to point any out from me. No lack of understanding of what has actually occurred either. OK's £1m is misinformation from you. based on you simply passing on what you have heard, rather than from fact checked details....? '"
I have corrected so much of your misinformation that it seems pointless to repeat, as if you didn't bother to read the corrections first time, why would you now? Or maybe you just haven’t read it. But sticking just to this particular piece of your catalogue of misinformation, I am stating the facts, and you have it wrong. The position was summed up in a T&A report following the creditors meeting:
Quote LeagueDweebFollowing the creditors’ meeting, Mr Khan released a statement, which read: “Firstly, the administrator’s proposals refer to a figure of £375,658 in respect of my claim.
“This was patently incorrect, but the administrator never consulted me regarding my claim prior to sending out the proposals with his Statement of Affairs.
“Following the receipt of the proposals and the submission of substantial paperwork to support my claim, and also discussions at Wednesday’s meeting, the administrator allowed me to vote my claim at approximately £998,000. '"
This is factually what happened. You are, as so often, simply wrong.
Adey has popped your balloon on the rest so I won't deal with that.